eBay Pricing

When you first begin to sell on eBay , you probably
will not immediately realize just how important pricing
is. In fact, many new eBay sellers don't even
realize that "pricing" needs to be done at all!
What happens is if you over focus on the auction
process at eBay , and how to attract bidders, you can
easily forget that pricing plays a very important role in the
site.

When you sell an item through an eBay auction, there are really
are three (and only three) prices that you need to think about:

The "buy it now" price.

The reserve price.

The starting bid price.

The first two of these three are in fact optional, and the
starting bid price is the only one that is required in order
to initiate an eBay auction.

As far as the starting bid price is concerned, the key thing
to remember is that you want to attract bidders. Lots of bidders.
Because the more bidders you have, the higher the final selling
price is likely to be. Thus, it's usually a good idea to set this
price to a low value - $50 is a good upper limit, no matter what your
item is really worth.

The most important price, especially since you have a low starting
bid, is the reserve price. The reserve price is the absolute lowest
price that you want to get for your item, and is your guarantee
that you will never be required to sell your items at a loss.
eBay does give you the option to sell the item below the reserve price,
but it will never require you to do so. In fact, if the highest bid
is lower than your reserve price, there are absolutely no negative
consequences whatsoever from deciding not to sell item.

Furthermore, what can happen if you have no reserve price,
is that scammers can use two eBay accounts in collusion
to get your item for much less than the real-value:
The first account bids very low, the second immediately bids high to deter other potential
bidders, and then immediately before the end of the auction, the high bid is cancelled or
withdrawn. However, setting a reserve price,
will protect you from this particular
eBay scam.

The last price to consider is the "buy it now price".
If you choose to enable this feature, visitors to your auction will see
a "buy it now" option that will allow them to buy immediately,
without bidding, at your chosen price. You can use this feature for
any type of item, but it tends to be most useful if you are selling
multiple identical items, or items that you are
drop shipping.

One final thing to remember is that hipping has a price, and potential buyers will
take this into consideration when they are looking at your auctions.
Your item description should therefore should make clear any shipping costs associated with your item.
If you become an eBay regular, you might want also experiment with offering free shipping - you
could be surprised at how many extra bids this can trigger.

Of course the prerequisite to choose the right prices to sell at, is knowing what your item is
worth, or, at the very least, what it cost you. For recent purchases, or items that you are
drop shipping, you probably already have a very clear
idea. On the other hand, for highly unique items, collectables, and high ticket items, their
value may not be so clear: for these types of things, it's probably best to seek a professional
valuation before you list them on eBay .

With any business, it is up to the individual owner of said business to ensure the success of the business. You may make more or less than any sample figures or results that might be quoted on our web sites or other publications. All business involves risk, and many businesses do not succeed. Further, Answers 2000 Limited does NOT represent that any particular individual or business is typical, or that any results or experiences achieved by any particular individual/business is necessarily typical.

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